News Highlights: Top Financial Services News of the Day - Wednesday at 7 AM ET

JPMorgan Plans to Open Around 100 New Branches in Low-Income Areas 
 

The bank will expand branches in rural and urban neighborhoods, offering an alternative to check cashing and payday lending.

 
 Venture Capital Pioneer Vinod Khosla Says AI Will Deliver Broad Deflation 
 

But as the price of expertise falls toward zero, a new age of abundance can begin, Khosla says-if people let it.

 
Ontario Pension Weighs Wider 'Risk-Return Spectrum' in Data Center Bets 
 

The teachers' pension system sees opportunities to invest directly in digital-infrastructure businesses at different stages of development.

 
Charles Schwab Names President Rick Wurster as Next CEO 
 

Walt Bettinger, who oversaw the company's rise to a personal-finance juggernaut, will retire after a 16-year tenure.

 
LPL Financial Terminates CEO Dan Arnold 
 

The board of LPL Financial Holdings terminated Dan Arnold as the retail investment advisory firm's top executive for having violated the company's commitment to a respectful workplace.

 
Monarch Alternative Capital Closes $4.7 Billion Credit Fund 
 

Monarch Alternative Capital has raised more than $4.7 billion for its latest fund, which the distressed-debt investor says will capitalize on opportunities presented by elevated interest rates and economic uncertainty.

 
Apollo's CEO Says Raising Money Is No Longer the Hard Part. Finding Deals Is. 
 

Marc Rowan touted his firm's ability to find investment opportunities during its investor day.

 
Partners Group to Sell Metering Company Techem in $7.5 Billion Deal 
 

The Swiss private-equity firm said it agreed to sell its majority stake in Techem to U.S. asset manager TPG and Singapore sovereign wealth fund GIC.

 
OceanSound Raises Nearly $1.5 Billion to Back Government-Linked Businesses 
 

The firm founded by former Veritas Capital executive Joe Benavides increased the upper limit on its second fund to meet investor demand.

 
TD Securities to Pay More Than $28 Million in Connection With Spoofing Charges 
 

The Securities and Exchange Commission also said the bank was charged for failing to supervise the former head of its Treasurys desk, who allegedly made hundreds of illegal trades over a 13-month period.

(END) Dow Jones Newswires

October 02, 2024 07:15 ET (11:15 GMT)

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